The Dynamics of Russian GDP and Industry in January–April 2010

According to the first data published by Rosstat, in the 1^st quarter 2010 the GDP of Russia increased 2.9% as compared to the same period last year. With investment activities still in decline and consumer demand being sluggish, the main factor behind the growth was the expansion of the exports.

According to the data of the Bank of Russia, in the 1^st quarter 2010 the foreign trade turnover amounted to USD138.1 billion and increased 44.2% as compared to the 1st quarter 2009. As against January-March 2009, exports grew by 61.6% to amount to USD 92.6 billion, while imports, by 18.4% to USD 45.6 billion. Export surplus exceeded by 150% the index of the 1^st quarter 2009 and amounted to USD 47.0 billion.

As compared to January-April 2009, the growth in industrial output amounted to 106.9%. It is to be noted that recovery of industry was determined by higher rates of growth in manufacturing industries (108.3% as against the 1^st quarter 2009) as compared to those in the primary sector (106.3%) and in production and distribution of power, gas and water (106.0%).

Production outputs in physical terms illustrate a renewal of positive dynamics of production of the main types of building materials and transportation vehicles, particularly, cars which factor has a favorable effect on the domestic demand.

О.I. Izryadnova, Head of the Laboratory of Structural Problems of Economy